Like rental units everywhere, apartments in Atlanta vary tremendously in terms of price and quality. If you’re planning to relocate to the Atlanta, Georgia area, it pays to do a bit of detective work, whether you’re looking for cheap apartments in Atlanta or deluxe, high-end penthouses – or something in between.

Own – Or Rent?

One thing you may be wondering is, why rent? Mortgage rates are at their lowest levels in decades, and thanks largely to the sub-prime debacle, there are plenty of houses available for a song. Anyway, isn’t home ownership the American Dream?

The simple answer is, not necessarily. Home ownership entails a great deal of responsibility, including any and all maintenance as well as property taxes. Those who rent Atlanta apartments don’t have to deal with those issues. There’s also the matter of mobility. Despite the fact that many Atlanta apartments require six or twelve month leases, many actually do rent by the month, or even the week. Should you need to pack up and move, it’s much easier and less expensive to leave an apartment than a house which you must list with a realtor and try to sell in an uncertain market – a process which could take months.

The basic rule of thumb is that if you’re planning to stay in the area five years or less, it makes more economic sense to rent one of the many Atlanta apartments.

What Does It Cost?

Like any large metropolitan area, the rent on Atlanta apartments depends on many factors. The primary ones however are:

1.Size and number of bedrooms

2.Distance from city center

3.Neighborhood

While you will naturally pay more for a two-bedroom than you would for a studio, rents tend to be lower further out in the suburbs. For example, you can get a studio apartment located near the southside near I-285 for as little as $400 per month. On the upper end, you can rent a four bedroom townhouse in a deluxe community for $5300 per month.

It is worth noticing that rental prices can vary quite a bit within one building or property. For example, the property referred to above also has small studios available for under $800 as well as the deluxe townhouses. These are a bit more expensive than similar units elsewhere, but may be more convenient to work, shopping and entertainment venues. This means that you may actually come out ahead by renting one of the higher end apartments in Atlanta, because you’ll save on transportation costs – something to think about in these days of $3+ per gallon gasoline.